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20,000 Forclosures in SFA Bay area...

By LarryPatrickMaloney   Follow   Wed, 27 Jun 2012, 11:11pm   1,262 views   12 comments
In Mountain View CA 94041   Watch (0)   Share   Quote   Permalink   Like   Dislike  

In honor of iWog's picture posting, here is the BA Area RealtyTrac map of foreclosures.

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1. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   1   11:18pm Wed 27 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   San Jose looks to be Hosed up! Can even see its name on the map. nearly 70 homes in my town of Los Gatos.. http://www.realtytrac.com/mapsearch/mapsearch/search.aspx?address=Los%20Gatos%2C%20CA%20&parsed=1&ct=los%20gatos&cn=santa%20clara%20county&stc=ca

2. E-man Follow Befriend (31) 34 threads 2,543 comments San Jose, CA Premium

   2   11:43pm Wed 27 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Wow, look at the Peninsula. If you take out East Palo Alto & the crappy part of Sunnyvale (east of 101), there's not that many foreclosures. Interesting that there are quite a few dots for MV. The East Bay & San Jose are pretty hosed. :o)

3. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   3   11:46pm Wed 27 Jun 2012   Share   Quote   Permalink   Like   Dislike   E-man says The East Bay & San Jose are pretty hosed. :o) where else do you think tech workers from Silicon Valley live at .. ever see the traffic after 3:30 heading south on 85, 280 and east on 92,17(880)& 680...

4. SFace Follow Befriend (2) 60 threads 1,297 comments Premium

   4   1:26am Thu 28 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Looking at the map, the penninsula is small. The area east of 280, west of 101 and north of 85 is maybe 3 miles by 30 miles, that's it! That's where to buy. San bruno, milllbrae, burlingame depending on your resource. Especially on the hillside portion where there are essentially no rentals, apartments or new Sfh ever. The topography, good jobs access and lack of red screams this.

5. E-man Follow Befriend (31) 34 threads 2,543 comments San Jose, CA Premium

   5   1:48am Thu 28 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   SFace says Looking at the map, the penninsula is small. The area east of 280, west of 101 and north of 85 is maybe 3 miles by 30 miles, that's it! That's where to buy. San bruno, milllbrae, burlingame depending on your resource. The topography, good jobs and lack of red screams this. Statistics without informed context are usually worthless, easily manipulated and often misleading. Looking closer to the map, there is practically nothing west of El Camino Real. Wow.....

6. Danaseb Follow Befriend (1) 142 comments San Jose, CA

   6   4:27am Thu 28 Jun 2012   Share   Quote   Permalink   Like   Dislike   damn, and just think of all those the banks are hiding to keep the market up and the infestors, fobs and IT tards paying the big bucks for their chicken coops.

7. LarryPatrickMaloney Follow Befriend (13) 57 threads 165 comments Mountain View, CA LarryPatrickMaloney's website

   7   7:37pm Thu 28 Jun 2012   Share   Quote   Permalink   Like   Dislike   So, I picked the # 20,000 off of realtytrac, it's right there in the picture. Anyway can interact with it, for no charge. Here, examine for yourself: http://www.realtytrac.com/mapsearch/mapsearch/search.aspx?address=San%20Jose%2C%20CA%20&parsed=1&ct=san%20jose&cn=santa%20clara%20county&stc=ca

8. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 170 threads 4,173 comments Premium

   8   8:59pm Thu 28 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Fuck. Open fire. Eat the bodies that are still warm.

9. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   9   10:07pm Thu 28 Jun 2012   Share   Quote   Permalink   Like   Dislike   SFace says That's where to buy. San bruno, milllbrae, burlingame depending on your resource. Especially on the hillside portion where there are essentially no rentals, apartments or new Sfh ever. The topography, good jobs access and lack of red screams this. From Los Gatos, it takes me 15-25 minutes to get to Milpitas via 17 or Palo Alto 17 to 280... no biggie!

10. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

    10   10:20pm Thu 28 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   E-man says Looking closer to the map, there is practically nothing west of El Camino Real. Wow..... look closer... http://www.realtytrac.com/mapsearch/mapsearch/search.aspx?address=Woodside%2C%20CA%20&parsed=1&ct=woodside&cn=san%20mateo%20county&stc=ca pick map...

11. bmwman91 Follow Befriend (7) 37 threads 1,526 comments Mountain View, CA bmwman91's website Premium

    11   4:43am Fri 29 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   E-man says Wow, look at the Peninsula. If you take out East Palo Alto & the crappy part of Sunnyvale (east of 101), there's not that many foreclosures. Interesting that there are quite a few dots for MV. The East Bay & San Jose are pretty hosed. :o) Learn from your victory. Prosper from your failure. Keep in mind that the map is only displaying 300 of 20k foreclosure balloons. I am not sure if those 300 are indicitave of the actual distribution.

12. E-man Follow Befriend (31) 34 threads 2,543 comments San Jose, CA Premium

    12   7:58am Fri 29 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   BMW, We have foreclosure everywhere in the Bay Area including Atherton, Hillsborough, Palo Alto, etc. However, the number is few & far in between. There are not that many in these fortress area. Take Sunnyvale for example. We barely have any foreclosures in 94087, but quite a few in 94085, 94086, 94089. Basically, the distribution is very unevenly. Same with MV, we only have a few foreclosures. People see foreclosures and think doom & gloom. You just have to analyze the number & its distribution. looking at the link Thomas.Wong provided above, it looks like his town has about 165 properties that are either in pre-foreclosure, foreclosure, or bank-owned. The absorption rate is about 80 properties/month in his town. That's only 2 months worth of inventory. That's hardly doom & gloom. I know there are more shadow inventory to come, but we absorbed quite a bit of it the last 3.5 to 4 years. I know prices don't make much sense this year, and I expect them to fall next year, but we're at that take 3 steps forward, 2 steps back stage. The bottom has been found in the sub $500k price range. We might see a 5% drop next year, but that's after a 10% surge this year. If no supply is coming down the pike soon, expect further squeeze on home prices. Reporting from the ground. This is E-man from Patnet. :o)